Home / Knowledge / News / Textiles / Oerlikon Textile adjusts profit forecast
Oerlikon Textile adjusts profit forecast
13
Aug '08
In the course of preparing its report for the first half year 2008, Oerlikon Group has adjusted its profit forecast to reflect current market conditions, and has recognized impairments of certain assets.

The sharp decline in global textile business, the unfavorable development of foreign currency exchange rates – particularly of the US Dollar vs. the Swiss Franc – and the current weakness in the semiconductor market exert a significant influence on profits for the half year as well as the annual result for 2008. The company now expects the EBIT before impairments for 2008 to be one third lower than in the previous year.

In addition, as interest rates and economic volatility have risen significantly, Oerlikon will revalue its goodwill due to the changed market environment. The revaluation will have no cash effect. For Oerlikon Textile, Oerlikon Esec and Oerlikon Systems, a one-time impairment of CHF 350 million in total is required.

Oerlikon Textile GmbH & Co

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search